Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Public Water Supply and Sewerage District No. 4 of Wayne and Butler Counties, Missouri has elected to sue the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of the Public Water Supply and Sewerage District No. 4 of Wayne and Butler Counties, Missouri under programs of the federal government for the year ended December 31, 2023, and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the schedule presents only a selected portion of the operations of Public Water Supply and Sewerage District No. 4 of Wayne and Butler Counties, Missouri, it is not intended to and does not present the financial position, changes in net position of the Public Water Supply and Sewerage District No. 4 of Wayne and Butler Counties, Missouri.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Public Water Supply and Sewerage District No. 4 of Wayne and Butler Counties, Missouri has elected to sue the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Public Water Supply and Sewerage District No. 4 of Wayne and Butler Counties, Missouri has elected to sue the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Public Water Supply and Sewerage District No. 4 of Wayne and Butler Counties, Missouri has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.